Standard & PoorÆs raises NYKÆs long-term rating to æBBBÆ
Standard & Poor's, the New York-based investment rating service, has raised its rating for NYK Line, a Japanese marine transportation and logistics company, to 'BBB' from 'BBB-.'
Standard & Poor's cited improvement in NYK's financial profile as a result of reduced debt, increased capital, improved business efficiencies in liner services, and the lower likelihood of fierce price competition in the liner business due to the formation of global alliances.
